Economic Objectives Word Scramble
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| Term | Definition |
| Laissez-Faire | A government policy of not interfering unnecessarily with the operations of private companies. |
| Privatisation | The sale of a state-owned company to private investors. |
| Nationalisation | The takeover by the state of private sector firms. |
| Public Private Partnerships (PPPs) | Partnerships between public sector organizations and private sector investors and businesses for the purpose of designing, planning, financing, constructing and/or operating infrastructure projects. |
| Full employment | A situation in which jobs are available for all those willing to work at existing wage levels. |
| Economic growth | The increase in output per person in the economy. |
| Equilibrium on the balance of payments | Means a situation where a countries exports are roughly equal to their imports. |
| Social policy | Government policy in relation to the provision of essential goods and services to all citizens regardless of their ability to pay. |
| The private cost of a good or service | The price a person or a firm has to pay to acquire that good. |
| The social cost of a good or a service | The cost of that good or service to society in general. |
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marymaloney
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